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Ensure what we are implementing is actually giving us the output we are looking for Are we assuming that employees are motivated by money? And maybe they’re not
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Avoid situations where bonuses become “expectations” which can result in a bonus backfiring
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Step 1: Identify the “unit of production”
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Could we switch Team Leads from a stipend to at “Team Credit” type bonus Team credit model can also be used for PT and PTA teams
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Experience: an automated way to provide some level of additional “base” pay each year… typically want to cap this. “Want to stay under 40% compensation of revenue if possible”
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Calibration point… the point where EE would earn the same on your comp model as they earn currently PTO: - can guarantee full pay - can tie to production (i.e. tie it to what they have averaged over the past x months) New Hires: - Correlation between length of grace period and level of stress - If more than 2 yrs exp recommended 3 month grace period, < 2 years exp, 6 months
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Ethical?: Need to have a way to track quality to avoid having a therapist choose quantity over quality - Provide a scorecard -
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Fed Min 36000 per year.. it’s a weekly requirement Some individual states have their own requirements and may be higher than the federal requirement Non exempt, still need to follow minimum wage requirements in the area
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Option for rolling this out for just new providers Historic data: Ideally there are a few weeks where their pay would have exceeded what they are currently making
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% of therapist salaries to top line has dropped 2%
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Seperate model for Pelvic health therapists that are over 50% of case load Use a % of revenue model
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New grads don’t start until 1 year completion of onboarding program PTO: accrues… paid out equivalent to a full therapist salary For every year experience, therapists get an extra 1000 dollars on their base
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Went out of UHC, 14% of patients
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Had a 10% turnover